The sharp spike in Brent crude above $102 and the U.S. 10-year bond yield rising to 5.11% will weigh on the market today. File
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Benchmark indices Sensex and Nifty tumbled in early trade on Thursday (September 24, 2026) as crude oil prices surged above the $100 per barrel mark.
Selling in banks, NBFC stocks and weak trends in global markets also dented markets’ sentiment.
The 30-share BSE Sensex tanked 632.68 points to 74,189.55 in early trade. The 50-share NSE Nifty dropped 216.15 points to 23,222.55.
Among the 30 Sensex firms, Bajaj Finance dropped 4.75%, while Bajaj Finserv declined 3.49%.
Axis Bank, InterGlobe Aviation, Kotak Mahindra Bank, and HDFC Bank were also among the major laggards.
However, Tech Mahindra, Sun Pharma, HCL Tech, ICICI Bank, and Tata Consultancy Services were the winners.
Brent crude, the global oil benchmark, traded 0.90% lower but reached above at the $100 per barrel mark to quote at $102.2 per barrel.
“The sharp spike in Brent crude above $102 and the U.S. 10-year bond yield rising to 5.11% will weigh on the market today. So long as these two global headwinds remain, the prospects of a smart recovery in the market appear remote. Today the market’s focus will be on the NSE listing,” V K Vijayakumar, Chief Investment Strategist, Geojit Investments Limited, said.
National Stock Exchange (NSE) is making its market debut on Thursday (September 24, 2026). The ₹22,569 crore IPO of NSE received an overall subscription of 5.71 times.
In Asian markets, Nikkei 225 index quoted in positive territory, while Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index traded lower.
U.S. markets ended lower on Wednesday (September 23, 2026).
“A rebound in crude oil prices amid renewed uncertainty surrounding the U.S.-Iran diplomatic process, coupled with a rise in U.S. Treasury yields, is likely to prompt some profit-taking after the market’s recent gains. WTI crude is currently trading around $91–92 a barrel, while Brent has climbed back above the $100 mark. Wall Street closed sharply lower, while Asian markets are showing mixed trends in early trade,” Ponmudi R, CEO of Enrich Money, an online trading and wealth-tech firm, said.
Foreign Institutional Investors (FIIs) bought equities worth ₹1,617.45 crore on Wednesday (September 23, 2026), according to exchange data.
On Wednesday (September 23, 2026), the Sensex climbed 299.17 points, or 0.40%, to settle at 74,828.25. The Nifty was up 117.80 points, or 0.50%, to end at 23,446.80.
Published – September 24, 2026 11:06 am IST
